What does bankers' acceptance mean?

bankers' acceptance meaning in Law Dictionary

Signing a bill by the buyers lender. It states the time become compensated by. It states also that the purchaser is steady and will spend.

bankers' acceptance meaning in Business Dictionary

Countersigning (endorsement) of a costs of exchange because of the customer's (or importer's) bank. Bankers acceptance establishes that payment of this costs on its readiness time is now fully guaranteed because of the endorsing bank. Financial institutions agree to countersign a bill of exchange if they are confident with the client's financial strength and stability, as well as on repayment regarding the acceptance cost.